- Daily transactions on the Binance Smart Chain reached a new peak value of 9.168 million on May 3rd
- Since late April, the Binance Smart Chain has been handling over 7 million daily transactions
- Unique addresses on the Binance Smart Chain have exceeded 70.3 million
- On-chain metrics point towards a bullish future for Binance Coin (BNB)
The number of daily transactions on the Binance Smart Chain continues to grow at an impressive rate and hit a peak value of 9.168 million on Monday, May 3rd. In addition, the Binance Smart Chain has been handling over 7 million transactions on a daily basis since late April as seen in the following screenshot.
Binance Smart Chain Daily Transactions are 5x that of Ethereum
To understand the magnitude of the number of daily transactions on the Binance Smart Chain, the blockchain network of Ethereum has been handling approximately 1.5 million daily transactions in the last two weeks.
Therefore, and taking an average of 8 million daily transactions on the Binance Smart Chain, the daily transactional activity on the BSC exceeds that of Ethereum by a factor of 5.33x.
Binance Smart Chain Unique Addresses Exceed 70.3 Million
In terms of unique addresses, the Binance Smart Chain now hosts over 70.3 million addresses as highlighted in the following chart.
Demand for Binance Coin (BNB) Continues to Increase
The increased activity on the Binance Smart Chain as demonstrated through its daily transaction count and unique addresses point towards a bullish environment for Binance Coin (BNB). The high network activity is a confirmation that the demand for Binance Coin (BNB) will keep growing and so will its value in the crypto markets.
One such example of the demand for Binance Coin was witnessed earlier today when the team at Simplex apologized to its customers for delays in its network due to a surge in interest surrounding BNB. The announcement by the team at Simplex can be found below.
1/2 There is currently a huge surge in demand for BNB, which has resulted in delays across the entire network.
We understand the frustration this is causing among users, and we are working at full capacity to once again enable smooth transactions of BNB.
— Simplex (@SimplexCC) May 9, 2021